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out today, still no rally for stocks. is it really still all about the fiscal cliff for investors right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that, by the way, is student loan debt, being up about $42 billion inside that $2.7 trillion number. overall, mortgage debt is down and overall debt is down. the basic gist of the details, bill, is that consumer credit continues to decline overall. delinquencies are down and bankruptcies are down. balance sheet repair continues. a little bit more willingness of the consumer to take on some debt and a lot of it -- >> that's very interesting, steve. let me ask you something, david. >> i want to make one more point, which is that when you talk about how much the dow is down today, it should be down more because the rally we didn't have from the better economic news
over the fiscal cliff? the democrats, 202-585-3880. republicans, 202-585-3881. independents and all others, 2.202-585-388 yesterday at the daily news conference of the white house, jay carney the spokesman there was asked about liberals who are advocating going off the so- called fiscal cliff. here is what he had to say. [video clip] >> he spoke with john boehner. by the weekend and he will meet with them at the appropriate time as well as nancy pelosi and mitch mcconnell. so the process that he began is continuing. recanting you to be optimistic that a balanced approach is achievable. we know what the solutions are. it was senator who said that in an op-ed, one benefit of all of the debate said we have had any discussions over the past couple of years is that we know what the parameters of a balanced solution for these challenges look like. and they include both spending cuts and revenues and entitlement reform. they have to have -- all three legs of the school of got to report of that. >> jay carney at the white house. was asked about the idea of going off the fiscal cliff. alan k
of the fiscal cliff. today on the senate floor, minority leader mitch mcconnell abusing president obama -- accusing president obama of being back on the campaign trail instead of working with lawmakers. have you seen anything to indicate that we are close to a resolution, or even moving in that direction? >> i haven't. it's hard to come to a resolution when one of the parties to that isn't around. the president, as you mentioned, is out on the campaign trail again. >> greta: you're referring to his trip this friday to pennsylvania. >> right. you've got to have presidential leadership to do big things. that's what we need right now. obviously republicans are here, ready to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost a million small businesses who employee 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference right after the election that his number one priority is jobs and the economy. we agree with that. but if your number o
of raising taxes in the face of the fiscal cliff. >>> courageous until the end. a former mayor in mexico who fearlessly stood up to the drug cartels found murdered. >>> and face-to-face behind closed doors today, u.n. ambassador susan rice takes on one of her sharpest critics, senator john mccain, over her actions after the benghazi attack. good morning and welcome to "early start," i'm deborah feyerick in for john berman. >> really nice to have you. >> i'm so glad to be here. >> i'm zoraida sambolin. it's 5:00 a.m. in the east. first, congress back to work, and back to bickering. in just under 35 days, america hits the fiscal cliff. that triggers severe spending cuts and tax hikes. several top republicans are now defying party politics and signaling a willingness to consider increasing tax revenues to get a budget deal done. but when the lame duck senate got back in session yesterday it sure sounded like the same old broken record. >> the senate has spoken. president obama has spoken. he's promising he will not sign any bill that mortgages our future to pay for handouts to the wealthiest 2%
for the middle class. tonight chris van hollen and jan schakowsky on the latest on the fiscal cliff. >>> the meeting with the president looks good for progressives. we'll get the scoop from james hoffa. >>> plus, breaking news. republicans running the benghazi witch hunt remain disturbed and troubles. >> i'm more disturbed and significantly troubled. >> i'm more troubled. >> joan walsh on today's big meeting with susan rice. >>> and yesterday ricks rolled fox news. >> i think that the emphasis on benghazi has been extremely political because fox was operating as a wing of the republican party. >> today fox news strikes back. >>> good to have you with us tonight, folks. thanks for watching. the white house is keeping republicans in a box. president obama is hitting the road to push the extension of tax cuts for income, for folks under $250,000 a year. the president will kick off his tour in southeastern pennsylvania on friday. today he met with small business owners at the white house and tomorrow he plans to meet with a group of middle-class families. republicans will be countering
-- can we avoid the fiscal cliff. can we get ourselves back on the right track, if you will, without raising taxes -- without getting rid of the bush tax cuts for the wealthy? >> i think -- it doesn't add up. you get about $750 billion from loopholes. that doesn't get you near -- >> bill: bill clinton said in charlotte, it is arithmetic. >> it's math. >> bill: right. you mentioned -- i want to come back -- the other thing the republicans have put on the table, of course, is entitlement. they will only consider new revenue if democrats come forth with entitlement reform. by entitlement reform, let's be honest. they mean getting rid of medicare, getting rid of medicaid. >> structural reforms. >> bill: and privatizing social security. >> it was good to hear yesterday jay carney the white house press secretary, i don't know if you were there. taking social security off the table. it's not a problem. it hasn't contributed to the deficit. that's off the table. they're open to medicare. they've been open to changing pr
a single share of stock even if he was guaranteed the u.s. goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in terms of what we've seen in this market. look how excited he is. and they finally got it done. it's been one as you pointed out that was around in 2011. they couldn't get it done. that is conagra. they walked away. ralcorp stock price fell dramatically. they split the post cereal division from ralcorp. the two trade separately. so you did have a company here that perhaps became a little more -- i wouldn't say vulnerable. not as if they were committed to selling. the board composition changed. you have had activist shareholder get on there. that was very
is that we get a fix for the fiscal cliff maybe early january, maybe we go over the cliff for a couple days. and i think the political pressure then to fix it would be intense because of the amt shock. normally 4.5 million pay pay alternative minimum taxes. if we didn't fix this on the 2012 income, what's due in 2013 will be additional taxes of several thousand dollars by an extra 28 million households. 33 million instead of 4.5 million on 2012 taxes. if you're going to file your tax return in january and you expect a refind, if you're in the 75,000 to 300,000 income bracket, forget about it if they don't fix that amt. so i think senators will get calls from a good portion of 28 billion households saying what are you doing raising my taxes. i never withheld. are you going to penalize me because you didn't fix what you fix every year? i think that amt shock is going to drive -- if we go over the fiscal cliff, it will drive a very, very fast fix. but then we'll just have a small bargain later this year. there's not going to be a grand war bargain. >> that could be the worst case scenario is j
leader summit last week says that the looming fiscal cliff is already impacting his business. >> right now i'm not that bullish at all. in fact i'd say there's a great uncertainly that's just hanging over the entire economy because we're not confident that our guys can govern anymore. people like me just aren't hiring because we're not confident they can do it. >> well, the white house echoed that concern this morning. a new report says failing to act on the president's plan for middle class americans would freeze the economic recovery. obama's plan includes lower taxes on the first $250,000 earned by every american and tweaking the alternative minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services
approach on the fiscal cliff, saying the elect is over. it's time to stop campaigning and start talk. some republicans are telling the president, show us your hand. martha: not over the cliff yet but perhaps headed there. good morning. i'm martha maccallum. the minority leader mitch mcconnell called the president out for what he says is a campaign-style blitz instead of negotiations between both sides. >> rather than sitting down with lawmakers and working out an agreement he's back on the campaign trail. we are not going to solve this problem by creating villians and drumming up outrage. >> he will be out trying to i'm sure zero in on those states represented by members of the house and the senate to try to get public support. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be w
advisors joining us to talk about the fiscal cliff and whether we will go over it. liz: do not miss it. but first what drove the market with today's data download. the nasdaq the only major index. still a pretty rough day on light volume. the dow and s&p ending lower the s&p ending lower with isn't a step in the longest winning streak in more than three months. tech and utilities were the top performing sectors while telecom and energy lag behind. we were talking about natural gas prices tumbling 4% today on warmer weather. forecasters warning of a warm start, but still expected to be much colder than last year. a lot of people betting it would be $4 at this point, if not. factory activity among the manufacturers falling back into contraction this month on bigger than expected drop as the federal reserve said activity index fell three points negative 2.8. the first of five regional reports covering an area that is not affected by hurricane sandy so you can only imagine how it would be in new york. david: will be talking with scott bauer in the pit of the cme. duking it out in our stree
the fiscal cliff? >> everybody agrees. >> going over the fiscal cliff will hurt our economy and will hurt job creation in our country. >>er -- every family in america will see their taxes automatically go up at the beginning of next year. >> shepard: so how to avoid that. >> the president and congress will either fail together or we will succeed together. >> there has to be a deal. there has to be an agreement. >> and if they can't come up with a compromise, we are all going to pay the price. plus, they are some of the biggest names in baseball. bonds, clemens, sosa. all three tainted by accusations they used performance enhancing drugs. but should that keep them from cooper's town? tonight, the great debate over baseball's hall of fame ballot but first from fox this wednesday night, the president hopes who have the framework of a deal to avoid the so-called fiscal cliff by christmas. president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make
they are republicans. then theyou have republicans. i don't see how we can survive this fiscal cliff if john boehner does not follow the lead of the president. he said a couple days ago we have to put obamacare in a position to and take some cuts from it. that's crazy. john boehner and mitch mcconnell and all of them have given the president a hard time. that's why we voted for these people and they are supposed to do our bidding, because people are hurting. host: let's take it to the state level in a carolina, state legislature, republican governor, republican. what are the big ticket items they will start working on? caller: i don't think the governor knows himself. he claimed that he will bring relief to the state. i don't see how he's going to do it. they are going to cut a lot of social programs that they call wasteful spending. people are going to really see what he's made of. what is your name again? host: what is that? caller: pope was the one along with the koch brothers that got it mccory into office. they are bought and paid for. they don't do the people -- everybody needs to be represent
the fiscal cliff. >> yes. >> there's a new one no tall, no water. two more songs. i'm like i can't see. >> no water? that's in sane! are they trying to kill people? >> did i tell you the other one? sweat is fat crying. >> i would just walk out right there. i can't deal with that crap. >> you have to keep your heart rate up, it's a test to see if you can make it through another song without towel or water. >> i don't need pithy sayings to keep my heart ray up. >> good morning everybody. u.n. ambassador susan rice is meeting with senators john mccain lindsey graham and kelly iop. they have been critical of her remarks in the aftermath of benghazi. she described that as a spontaneous attack based on the in tell she had from the intelligence community. there could be some substance to the plan that president obama plans to nominate her for secretary of state. she will meet with other lawmakers later this week. president obama has been unwaiving in his support of her calling republican attacks on her outrageous. >> according to official announcement, the president of mexico and the presiden
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in washington to avoid going over the fiscal cliff. but are they any closer to an agreement? >>> u.n. ambassador susan rice faces three of her main republican critics today, trying to explain her comments about the attack in benghazi. will she get their support if she's nominated as secretary of state? >> then, she's queen of the racetrack. now she's taken on sonic. danica patrick is here, live, with a preview of her new racing video game. >> we have lots coming up in the next two hours. pennsylvania senator pat toomey, maryland congressman chris van hollen. utah senator mike lee. and actress lucy heal from "pretty little liars." >> "starting point" begins right now. >>> good morning, everyone. our starting point today, more republicans seeming to break their no tax pledge but still bickering with democrats over the so-called fiscal cliff. and just under 35 days now america falls off that cliff. you've heard the menacing sound right there. this triggers drastic spending cuts and tax hikes. now there are some signs of compromise on capitol hill. several top republicans saying they're willing to a
, obama launches p.r. effort on cliff the fiscal cliff, of course. putting pressure on congress, president will talk to small business owners. so here's what's going on. right. with this fiscal cliff looming the president has laid out -- very, very clear what he's talking about, what he wants to see. it is a $4 billion package of cuts to the deficit a combination of spending cuts and new revenue and about $2 trillion of that coming from getting rid of the bush tax cuts. at the same time while getting rid of the tax cuts for the wealthiest 2% of americans letting the tax cuts for 98% of americans continue because the middle class do need the help and the wealthiest people do not. so to get there of course, and by the way let's back up, right. the president put forth his plan on november 6th and mitt romney put forth his plan and the american people said no, we don't like that romney way of going which is to continue to coddle the rich. we agree with president obama. so now the negotiations are underway. abo
with senator tom coburn about the fiscal cliff, affordable care act and future of the republican party. the senator has written several books, including his latest. join our three-hour conversation with your calls, emails and tweets for medical doctor and senator tom coburn on book tv's "in depth" on c spanning 2. >> washington worked his way up and wept to harvard law school and went out west to illinois to galena where the industry was in its heyday. arrived by ship by stagecoach, by train and arrived on steamboat in this muddy mining town. boarded themselves in a log cabin and established themselves in a log cabin and worked his way up and became a very successful lawyer and got involved politically. ran for congress, served for eight terms and then befriended abraham lincoln, obviously from illinois and then grant. and as they were on the rise, washburn stayed with them as a close colleague during the civil war and after grant was elected president, he initially appointed washburn secretary of state and at that time, wash burn became very, very ill and his family feared for his lif
hill, it's back to the bargaining table for lawmakers facing a year-end fiscal cliff. yesterday the white house took a hard line insisting tax rates have to rise on the rich. and warning that any more delay on a deal could ruin consumer confidence and hurt-day retail sales. nbc's tracie potts joins us from washington with all of those details. tracie, good morning to you. >> reporter: hi, lynn. good morning, everyone. as we track negotiations over the next few weeks, keep in mind that the key sticking point seems to be how do you get people who earn over $250,000 to contribute more? limit their deductions? close loopholes? or raise their tax rates? today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new white house economic report warns if tax breaks go away, the average middle-class family will owe uncle sam another $2,200 next year. >> it seems to be the thing that we can all agree on, that middle-class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been dead set a
this, the austerity crisis, better known as the fiscal cliff facing washington and the country. this hour president obama will speak live at the white house flanked by middle-class families whose household budgets depend on congress reaching a deal by january 1st. his latest effort to use his bully pulpit. nearby on capitol hill, both parties are meeting behind closed doors at this very minute. each side hashing out where they are willing to compromise and where they are drawing the line in the sand. >>> the other big story we're watching for you, a second round of sitdowns for united nations ambassador susan rice, who's in an all-out campaign of her own to face her critics. after three republicans issued blistering comments yesterday, this morning rice is meeting with republican senator susan collins of maine and in an hour is expected to meet with senator bob corker of tennessee. rice's harshest krit eks are still vowing to block her potential nomination as next secretary of state. >> i think everybody gets to, one, be nominated, and, two, go through the hearings and the deba
if there is no deal on the fiscal cliff? >> that's right, andrea. we looked at what would happen if the middle-class tax cuts are not extended. the typical middle-class family with two children would see a $2200 tax increase next year if the tax cuts are not extended. that will hit their pocketbook. that would reduce consumption by 1.7 percentage points and reduce gdp growth by 1.4 percentage points and would be a big hit to retailers. we calculate that about $200 billion less would be spent next year than would otherwise be the case if the tax cuts for the middle class are not extended. and just to put that in perspective, that's about four times as much as spent over black friday weekend. >> why isn't there more action? we don't see the leaders coming to the hill, we don't see any meetings. what is going on perhaps behind the scenes because mitch mcconnell, among others, critics of the president, of course, were saying where is the presidential engagement. why is he going out to the public and continuing a political campaign to drum up support and not engaging one on one, meeting with the le
as we get word of a major development here and talks over the so-called fiscal cliff. we'll have that in a moment. plus, ta-da, get your tickets out. tonight, the powerball jackpot hitting a record and this hour president obama getting ready to hold his first cabinet meeting since being re-elected. and keep in mind, some members of that cabinet, they will not be there for long. but first, the fiscal cliff battle here that landed in your lap today. president obama, even wants you to tweet about it. the president went full court press asking americans to pressure congress to keep middle class tax cuts for families earning $250,000 or less. >> it is too important for washington to screw this up. now is the time for us to work on what we all agree to, which is let's keep middle class taxes low. tweet, use the hashag my2k or e-mail, post it on a member of congress' facebook wall, do what it takes to communicate a sense of urgency. i'll sign this bill as soon as congress sends it my way. i got to repeat, i've got a pen. i'm ready to sign it. so -- >> the president wants republicans to
that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says they are still holding out for higher tax rates on the rich and he says the radical left is prescenting the democrats and president and agreeing to serious reform from medicare. martha, i have to tell you. i got new numbers from medicare, from trustees, actually. medicare has to pay out in the future $42 trillion.
hope so. what i would like to do is to say that the fiscal cliff issue we have been talking about all they hear -- all week, is really important and we have to make progress right now towards a sustainable budget. a lot of experts sitting here about why that is important but based on our work there's a much broader competitiveness problem facing the u.s. right now. has been building for decades, it is not a recession, it has been building for decade-sapping the ability of the american economy to grow, and the average american to rise. to make the u.s. less competitive, less attractive for business, we go back to the fiscal cliff discussion over and over again because unless we get the economy really moving and growing in a long run, these budget problems will occur over and over again. we have identified eight areas where we find, these things would move the needle in a reasonable time frame, two or three or four years we start to see impact and there's quite bipartisan support. and the sustainable budget compromise. number 2, easing immigration now. we need a broader immigration refo
negotiate a deal to try to avoid the coming fiscal cliff. our chief white house correspondent ed henry is live at the white house. so what are we expecting from the president today, ed? >> reporter: jon he is going to meet with business leaders as you say later this hour. he will come out and talk about where he believes these fiscal cliff talks are. you remember on friday he will be in pennsylvania for essentially a campaign-style event to try and pressure republicans to move forward in these talks. the white house also has this new twitter campaign they unveiled today, the hashtag, my 2 k, as in $2000 believes middle class families will get if the president's push to extend bush-era tax cuts for the middle class to continue. republicans have been saying that is all about campaigning. jay carney, the white house spokesman says it is about engaging the public. take a listen. >> the president spoke with speaker of the house boehner and senate majority leader reid over the weekend. our team is continuing discussions with their congressional counterparts on this matter, and it is entirely
.m. majority whip dick durbin will talk about the so-called fiscal cliff and deficit reduction at the center for american progress. fiscal cliff, a combination of those expiring tax provisions and budget cuts that could take place the beginning of the new you. they include the bush-era tax cuts and sequestration. live coverage starts at 1130 eastern also on c-span. we are likely to about the fiscal cliff during the senate session today getting underway at 10 a.m. eastern, just over a half hour from now. after the gavel and majority leader reid will be recognized to speak and will likely outlined the schedule for the day which could include debate on defense programs and policy, and possibly legislation to do with equal rights, people with disabilities. centers will us from 12:30-2:15 eastern for weeks the party meetings. live coverage of the senate and members gavel in right here on c-span2. right now some debate from the floor of the senate yesterday between majority leader reid and republican leader mitch mcconnell. d, w they talkede about potentialit't changes to filibuster rules. here's
compromise to avoid the january fiscal cliff, showing a willingness to put spending cuts and revenues on the negotiating table. the white house warned that the uncertainty of potential tax hikes for middle-class taxpayers could hurt consumer confidence during the holiday shopping session. that could have a big effect on the economy. the washington post writes that the white house is ratcheting up pressure to avoid the fiscal cliff. on c-span tonight, we will bring you some of the house and senate debate from august of 2011, when congress passed the budget control act that triggered cuts to take effect on january 1. we will also hear from president obama, who signed the deficit reduction measure into law, part of the deal to raise the debt ceiling. first, senate majority leader harry reid and republican majority leader mitch mcconnell will talk on the senate floor about the january fiscal deadline. >> since our country voted to return president obama to the white house, i have spoken often about compromise. i remain optimistic that, when it comes to our economy, when it comes to protec
- called fiscal cliff. it airs tonight it it o'clock eastern-- a o'clock here on c-span. >> in january, our first week we were sworn into office, the president ask for an increase in the debt ceiling. i made clear at that time there would be no increase in the debt ceiling without significant cuts in spending and changes to the way we spend the american people's money. shortly after that, i was in new york and gave a speech and outlined i thought the spending cuts should exceed the amount of debt limit increase and there should be no taxes as part of this agreement. when you look at what we have been able to achieve, we have met those to standards that have been outlined. the american assistance it is time for america to deal with its spending problem and we made promises to the american people that our kids and grandkids just cannot afford. in addition, we of work with our members and listen to the american people. we have a real interest in making sure we don't get into this spot again. and we ought to have a balanced budget an image to the constitution. i think if you look at the structu
he speaks russian. >> steve: and talking about the fiscal cliff. the private talks are accelerating. and the president of the united states called mr. boehner and mr. reid over the weekend. it looks like the president is going to continue the push and meet with the ceo's tomorrow. they upon meet with irskin bowles. he was the co-chair of simpson-bowles commission . mr. bowles had a great plan. he is a democrat, that offered up 800 billion in new revenue and overhaul the tax system and changes to medicare and that's why the republicans are asking the democrats to come in and explain your deal. this plan was hatched in 2010 and everyone walked away from it and now they call bowles back up? it is late. this is what the american people are upset about. nothing gets done. >> steve: we are a month from the cliff. >> gretchen: we could have avoided the cliff if they used the plan as a starting point. americans are upset nothing gets done. >> brian: norquist is the bad guy. you should walk away from grover norquest. he said you have enough money on capitol hill and stop asking us . he's bee
know, i think what i'd like to do is just to frame this up a little bit to say this fiscal cliff that we've been talking about all day here and talking about all week is really important. and we have to make progress right now towards a sustainable budget, and we've got a lot of experts sitting here about why that's important. but based on our work, there is a much broader competitiveness problem facing the u.s. right now. it's been building for decades. this is not something new, it's not a recession. it's been building for decades, and it's sapping the ability of the american economy to grow, and it's sapping the ability of the standard of living for the average american to rise. and unless we start tackling the real core issues that are making the u.s. less competitive and less attractive as a location for wiz, we're going to -- for business, we're going to go back to the fiscal cliff discussion over and over again. unless we can get our economy really moving and growing in the long run, these budget problems just are going to recur over and over again. based on our work, we h
cliff to that fiscal slope. liberals are saying to that austerity bomb that progressive people don't like at paul. former senator allen simpson proposed a plan to get the united states financial house in order that some say was our best shot at solvency. senator simpson, it's always an honor. politics, i know you understand the irony of politics, it makes strange bedfellows. i want to try something by you. the president wants a deal. the president would obviously like to include something on revenues. the conservative may not want to go along with that. the best push is coming from people i don't normally side with like tom donahue of the u.s. chamber of commerce because he's warning if the congress screws around with this thing, the whole world is going to be watching us screw it up again and it's going to hurt the economy no matter who is in charge, it will hurt everybody, and we better darn well have a deal. i think they're the strongest push, better than the progressives, in get a deal. your thoughts? >> i think dick durbin is a hero. i'd give him the medal of honor with oak le
paul on the fiscal cliff by the way. here he is. >> the bottom line is it is a mistake to raise taxes on anybody we shouldn't give in on it. those who are new here, please hold the line. there is one compromise i would be in favor of. all spending should be cut. we compromise enough to say let's look for some ways to the military budget. liberals say entitlements have to be picked. >> stephanie: that's not exactly a compromise. [ ding ding ] [ applause ] >> besides, this isn't really raising taxes. this is letting the bush tax cuts expire as they were supposed to do two years ago. >> which is what george bush designed them to do. >> your guy. >> stephanie: some people haven't gotten the memo about the election results. that's not a compromise. >> you do what we say and then we'll think about maybe doing some cuts to the military. >> i don't care for rand paul. or his wig. >> stephanie: the headline is rich people complain the fiscal deal could force them to pay slightly higher taxes. it is outrageous.
. but with the fiscal cliff looming, there's a growing consensus that taxes may have to go up. norquist said those who reneged would pay a price. >> would you target some of them? >> we would certainly highlight who has kept their commitment and who hasn't. >> fortunately for grover, but unfortunately for those who want everyone to contribute their fair share there are plenty of republicans caught in the pass, plenty who can't accept that president obama won reelection >> there are some republicans who recognize they did lose and that new revenue new tax revenue will have to be part of any deficit deal. i noticed mitch mcconnell's talked about tax rates. he's going to insist that tax rates not go any higher. you've got the mathematicians trying to raise the numbers. you can exact the rate throughout a person's entire income. they're looking for ways to finagle this. republicans are going to have to retreat and they're going to get a better deal before the end of the year than going into the new year. >> i want to ask you about that, what eleanor said about the end of the year rather than going into th
nomination for secretary of state? >>> the white house is stepping up pressure to avert the fiscal cliff as talks reach a breaking point. >>> and norway released chilling new video of last year's oslo bomb attack that killed eight people. good morning, i'm lynn berry. after weeks of controversy over the obama administration's handling of the attack in benghazi, the woman in the middle of it all will go face to face with her toughest critics. u.n. ambassador susan rice is
december 31st deadline, the so-called cliff, anything from that fiscal cliff to that fiscal slope. liberals are saying to that austerity bomb that progressive people don't like at all. former senator alan simpson proposed a plan to get the united states financial house in order that some say was our best shot at solvency. and avoiding the mess that awaits us come december 31st. senator simpson, it's always an honor. politics, i know you understand the irony of politics, it makes strange bedfellows. i want to try something by you. the president wants a deal. the president would obviously like to include something on revenues. the conservatives may not want to go along with that. but if it will include something on revenues. the best push is coming from people i don't normally side with like tom donohue of the u.s. chamber of commerce because he's warning if the congress screws around with this thing, through new year's, christmas and new year's, the whole world is going to be watching us screw it up again. and it's going to hurt the economy no matter who is in charge, it will hurt everybody,
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